More than 100 US companies expressed interest in exploring investment opportunities in Clark Freeport Zone and New Clark City, particularly in areas like connective infrastructure, information and communications technology (ICT) and critical minerals, state-run Bases Conversion and Development Authority (BCDA) said Thursday.
BCDA chairman Delfin Lorenzana and chief executive Joshua Bingcang participated in a senior leaders seminar in February 2024 to promote investment opportunities in New Clark City, Clark Freeport Zone and Clark International Airport.
“With significant developments happening in Clark, many US companies are taking notice. They want to play a major role in Clark’s future,” Bingcang said.
He said their efforts align with the government’s goal of attracting foreign capital and expertise in critical sectors like infrastructure, pharmaceuticals and logistics. The message was conveyed in the presence of US Secretary of Commerce Gina Raimondo.
The business mission at the US Chamber of Commerce in Washington D.C. resonated with Special Assistant to the President for Investment and Economic Affairs Frederick Go’s vision to drive investment and solidify the Philippines as a top investment destination.
The BCDA also paid a courtesy call on Raimondo, who will lead a US presidential trade and investment mission to the Philippines on March 11 to 12, 2024.
Raimondo expressed her commitment to promoting Clark as an ideal investment hub for US companies seeking to expand their business in the Philippines.
Among the highlighted Clark development projects are the 296.5-acre Filinvest Innovation Park in New Clark City, the $3.17-billion Subic-Clark-Batangas Railway System, $152-million Clark National Food Hub, the $60-million expansion of Clark International Airport’s airside capabilities, $2-billion data center colocation facility in New Clark City, $172-million solid waste management and waste-to-energy project in New Clark City, $17.9-million solar photovoltaic power plant in New Clark City and the $100-million Clark Integrated Public Transport System.
Clark houses over 1,000 companies, including major players like Texas Instruments, FedEx, Hilton, Nestle, UPS and Marriott.
